Baldwin Insurance: CII Reports 1.64M Shares

Rhea-AI Filing Summary

The Baldwin Insurance Group, Inc. reporting an amendment to a Schedule 13G that discloses Capital International Investors as the beneficial owner of 1,643,557 shares of Common Stock, representing 1.7% of the class based on 96,721,068 shares believed outstanding.

The filing lists CII's sole voting and dispositive power over 1,643,557 shares. The statement is signed by Aaron Espin, Senior Vice President, dated 05/13/2026.

Insights

Institutional Ownership Specialist

Large institutional stake disclosure: passive holding under 5%.

The amendment shows Capital International Investors reporting beneficial ownership of 1,643,557 shares, or 1.7% of the outstanding common stock as stated in the filing. The filing characterizes the position as an ownership of 5% or less, which is a routine passive-investor disclosure.

Implications depend on subsequent filings; future Schedule 13D/13G amendments would show any change. Cash-flow treatment and trading intent are not provided in the excerpt.

Securities Compliance Counsel

Form and attribution align with passive reporting conventions.

The filing attributes ownership to Capital International Investors and explains the group structure that gives CII beneficial ownership. It states sole voting and dispositive power for the reported shares, consistent with standard Schedule 13G/A disclosures.

Key qualifiers include the phrase "believed to be outstanding" for the 96,721,068 share base. Any changes to ownership or intent would require additional amendments under the Exchange Act rules.

Key Figures

Beneficial ownership: 1,643,557 shares Percent of class: 1.7% Shares believed outstanding: 96,721,068 shares +3 more

6 metrics

Beneficial ownership 1,643,557 shares Common Stock reported by Capital International Investors

Percent of class 1.7% of 96,721,068 shares believed outstanding

Shares believed outstanding 96,721,068 shares basis for percentage in the filing

CUSIP 05589G102 Issuer CUSIP for Common Stock

Signature date 05/13/2026 signed by Aaron Espin, Senior Vice President

Reference date 03/31/2026 date shown on the cover of the amendment

Key Terms

Schedule 13G/A, Beneficial owner, Sole dispositive power, Sole voting power

4 terms

Schedule 13G/A regulatory

"Amendment to a Schedule 13G showing passive ownership disclosure"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial owner regulatory

"CII is deemed to be the beneficial owner of 1,643,557 shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Sole dispositive power financial

"Sole power to dispose or to direct the disposition of: 1,643,557"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Sole voting power regulatory

"Sole power to vote or to direct the vote: 1,643,557"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Capital International Investors report in BWIN?

Capital International Investors reports beneficial ownership of 1,643,557 shares, equal to 1.7% of the class based on 96,721,068 shares believed outstanding. The filing classifies this as ownership of 5% or less.

Does the filing show voting or dispositive power for the reported BWIN shares?

Yes. The filing states CII has sole voting power and sole dispositive power over 1,643,557 shares, with no shared voting or dispositive power reported in the excerpt.

When was the Schedule 13G/A amendment for BWIN signed?

The Schedule 13G/A amendment is signed by Aaron Espin, Senior Vice President, with a signature date of 05/13/2026. The cover indicates a reference date of 03/31/2026.

Does this filing indicate active acquisition or intent to influence BWIN?

No explicit acquisition intent or plans to influence control are stated. The filing is presented as a passive ownership Schedule 13G/A and classifies the position as ownership of 5% or less.

What entity structure is described in the BWIN filing?

The filing explains CII is a division of Capital Research and Management Company and lists investment management subsidiaries and affiliates collectively providing services under the name Capital International Investors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/14/2026 - 12:52 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

The Baldwin Insurance Group, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

05589G102

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 05589G102

1

Names of Reporting Persons

Capital International Investors

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,643,557.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,643,557.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,643,557.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: The Baldwin Insurance Group, Inc.
(b)	Address of issuer's principal executive offices: 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA, FL 33607
Item 2.
(a)	Name of person filing: Capital International Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 05589G102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,643,557 ** **Capital International Investors ("CII") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CII's divisions of each of the investment management entities collectively provide investment management services under the name "Capital International Investors." CII is deemed to be the beneficial owner of 1,643,557 shares or 1.7% of the 96,721,068 shares believed to be outstanding.
(b)	Percent of class: 1.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,643,557
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,643,557
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Capital International Investors

Signature:	Aaron Espin
Name/Title:	Senior Vice President
Date:	05/13/2026